Citic Hedge Fund Will Focus on Yuan, Other Emerging Currencies
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Former FX Concepts LLC executives Robert Savage and Ron DiRusso are starting a hedge fund with Citic Capital Holdings Ltd. that will trade emerging-market currencies with a specific focus on the Chinese yuan.
“As the renminbi becomes a viable currency, the need for the region’s investors to have a better currency program in place to handle those risks is going to go up,” Savage, formerly chief strategist at bankrupt FX Concepts, said in a phone interview. “We’re trying to fill that need.”